Right. It is hard in general to compare performance or generated code across languages as they make different trade offs. Table 3 and 5 show compilation of our memory model to X86 and ARMv7. The compilation and the related work section discusses trade offs.
To summarise, atomic read and write in OCaml is more expensive than C++ since C++ SC atomics only establish total order between SC operations on not operations that are weaker but related to SC operations by happens before. We need stronger atomics for local data race freedom.
Our non atomic are also stronger than non atomics on C++ and Java. That said, The non atomic operations are free on X86 (compiled to plain loads and stores) and involve a lightweight fence before stores on weaker architectures such as ARM, Power and RISC-V. The performance results show that extra fences before stores have a barely noticeable impact on ARM and Power.
The results section of the paper only compare the performance of Multicore OCaml with plain OCaml, not OCaml vs C++ / Java.